Gujarat Government has collected a whopping Rs. 86,780 crore in the year 2021-22 by way of GST and VAT. The amount collected is Rs. 20057 crore more than the collection of Rs. 66,723 crore made in the year 2020-21. It is the highest since the implementation of GST.
Similarly, Rs.4530 crore collected in the month of March 2022 with 28.56% more than the amount collected during march 2021 is the highest ever monthly collection by the Government of Gujarat. In March 2021, the Collected amount was Rs. 3523 crore.
If the surge in GST collection is any indication, there are reasons to believe that the economy battered badly by Covid-19 is recovering at a slow yet steady pace. The overall recovery can be witnessed from the figures of the collection of GST.
The GST collection figures for the year 2021-22 is Rs.45,464 crore against the collection of Rs. 30,697 crore in the year 2020-21. It amounts to an increase of Rs. 14,767 crore, i.e 48.10% over the previous year.
In the case of VAT, the collection during the year 2020-21 remains Rs.9,310 crore more than the previous year’s collection of Rs. 20,827 crore, registering a growth of 44.70%.